Facc Ag · VIE:FACC
Facc — Q3 2021 Earnings Presentation
22 slides from Facc's earnings presentation, Nov 10, 2021
Slide 1: Q3 2021 - 10th November 2021
HORIZONS ) Q3 2021 10th November 2021 a
Slide 2: Q3 2021 Key Topics
Q3 2021 KEY TOPICS Robert Machtlinger (CEO)
Slide 3: Q3 / 2021 Key Topics
FACC AG | Confidential and/or Proprietary Q3 / 2021 KEY TOPICS > Revenues slightly better than expected 9m 2021: EUR 358.3 mln > New project acquired: Empennage components for Airbus A220 > FACC consistently implements measures and further reduces net debt in Q3 > Market cautiously positive: opening
Slide 4: Aerospace Market
AEROSPACE MARKET
Slide 5: Business Environment
FACC AG | Confidential and/or Proprietary BUSINESS ENVIRONMENT Aerospace market recovery gains momentum > Customer demands and associated aircraft build rates without significant deviations from FACC expectations – Narrow-body planes with faster recovery pattern (eg Airbus A32F) – Wide-body planes w
Slide 6: Global Market Overview
FACC AG | Confidential and/or Proprietary GLOBAL MARKET OVERVIEW North and South America leading the recovery World markets ▪ Regions still experience very different recovery patterns and speed ▪ Europe finally picking up in recovery speed ▪ North America – especially US – leading in recovery ▪ Asia
Slide 7: Global Market Overview
FACC AG | Confidential and/or Proprietary GLOBAL MARKET OVERVIEW Continental travel is steadily improving Passenger rates improving ▪ Monthly passenger numbers stabilized in Q3 2021 on higher level ▪ International travel is slightly increasing ▪ US reopening on 8th November as encouraging milestone
Slide 8: Global Market Overview
FACC AG | Confidential and/or Proprietary GLOBAL MARKET OVERVIEW Steep increase in 2021 aircraft deliveries compared to 2020 172 Q3 /2021 airplane deliveries 145 ▪ 665 delivered aircraft in 9m/2021 versus 122 125 127 439 aircraft in 9m 2020 prove steep recovery (+226 compared to 9m 2020) 85 77 79 ▪
Slide 9: Financials
FINANCIALS Aleš Stárek (CFO)
Slide 10: Revenues
FACC AG | Confidential and/or Proprietary REVENUES Revenues stabilized with positive outlook for Q4 Revenues Revenue details in million EUR ▪ 3rd quarter slightly better than management expected 195,4 ▪ Quarterly revenues in 2021 clearly show the stabilized market environment 128,4 ▪ Revenue streams
Slide 11: EBIT
FACC AG | Confidential and/or Proprietary EBIT FACC successfully implemented cost reduction measures EBIT EBIT improvements in million EUR ▪ FACC successfully adapted its cost structure to the new market environment 11,3 ▪ Third positive quarterly EBIT in a row 2,5 0,4 0,1 ▪ Division profit situatio
Slide 12: Aerostructures
FACC AG | Confidential and/or Proprietary AEROSTRUCTURES Lower volumes, but still positive EBIT Revenue EBIT in million EUR in million EUR 4,9 70,3 1,9 0,2 49,3 -0,8 44,6 39,9 -5,8 36,0 -6,6 32,5 32,6 -19,2 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 20
Slide 13: Engines & Nacelles
FACC AG | Confidential and/or Proprietary ENGINES & NACELLES B787 still dragging on revenue Revenue EBIT in million EUR in million EUR 46,3 2,2 2,0 2,0 0,1 26,6 28,3 24,9 23,3 24,8 17,4 -6,6 -8,0 -10,5 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2
Slide 14: Cabin Interiors
FACC AG | Confidential and/or Proprietary CABIN INTERIORS Positive revenue development is supporting EBIT Revenue EBIT in million EUR in million EUR 78,7 4,2 57,3 54,2 54,2 51,5 49,9 -0,8 -0,2 42,4 -1,4 -5,3 -7,5 Q1 2021 -16,1 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q1 2020 Q2 2020 Q
Slide 15: Free Cash Flow
FACC AG | Confidential and/or Proprietary FREE CASH FLOW Solid free CF improvement in first 9m Free Cash Flow – Q3 2020 Free Cash Flow – Q3 2021 in million EUR in million EUR 15
Slide 16: Cash Flow
FACC AG | Confidential and/or Proprietary CASH FLOW Measures working and improving Cash flow INVESTMENTS WORKING CAPITAL in million EUR in million EUR 28,2 167,8 146,4 22,9 128,1 19,1 1 1 30.09.2020 31.12.2020 30.09.2021 30.09.2020 31.12.2020 30.09.2021 16
Slide 17: Balance Sheet Figures
FACC AG | Confidential and/or Proprietary BALANCE SHEET FIGURES Encouraging capital KPIs EQUITY NET FINANCIAL DEBT in million EUR in million EUR 257,1 236,3 232,1 243,2 37,3% 234,2 213,4 37,4% 37,9% 1 1 30.09.2020 31.12.2020 30.09.2021 30.09.2020 31.12.2020 30.09.2021 17
Slide 18: Financial Status as of Sept 30th, 2021
FACC AG | Confidential and/or Proprietary FINANCIAL STATUS AS OF SEPT 30TH, 2021 ▪ Waiver agreement with banks moves next testing of leverage to 31.12.2021 ▪ Requirement: Net financial debt / EBITDA equal or less than 5.25 ▪ No covenant requirements in Promissory notes from 2019 Senior Debt and Cash
Slide 19: Outlook
OUTLOOK
Slide 20: Outlook 2021 and 2022
FACC AG | Confidential and/or Proprietary OUTLOOK 2021 AND 2022 Higher volumes and EBIT expected for 2022 − Construction activities for new plant in Croatia almost finished: start of production in December 2021 − After first successful vertical integration projects in the recent quarters, those effo
Slide 21: Disclaimer
FACC AG | Confidential and/or Proprietary DISCLAIMER ▪ This document contains forward-looking statements. Words such as ‘outlook’, 'believe', 'intend', 'anticipate', 'plan', 'expect', ‘objective’, ‘goal’, ‘estimate’, ‘may’, ‘will’ and similar expressions often identify these forward-looking statemen
Slide 22: FACC AG – Confidential and/or Proprietary
FACC AG – Confidential and/or Proprietary